Former Lagos State Governor, Bola
Tinubu, has advised the Buhari government to be more proactive to ensure
Nigerians feel its impact.

Tinubu said this in a paper he
delivered at the Daily Trust dialogue.

Represented by a former
‎Commissioner for Finance in Lagos State, Olawale Edun, Tinubu highlighted 8
things the current administration must do to foster growth and development.

He said: “1. We are a populous
nation with large, ever-growing cities. We need to provide jobs for this
expanding urban population.

This means we must press forward
with a national industrial policy by fostering strategic industries that will
provide employment into the foreseeable future.

2. We need a national
infrastructure plan that envisions a coherent and integrated infrastructural
grid, as no national economy may grow beyond the capacity of the infrastructure
that serves it. This particularly is true of electrical power.

3. We must reject the notion of
orthodox economics that governmental balancing of budgets or surpluses are
always good. In our case, following this mainstream approach may lead to
perpetual stagnation and deter us from the brave steps required to promote true
development.

In this regard, an immediate
opportunity to provide stimulus to the economy while simultaneously alleviating
the hardship of retirees and old-age pensioners presents itself, through the
comprehensive tackling of outstanding pension payments. While what is needed is
a holistic review and reform of the disjointed social security and welfare
apparatus, a good place to start would be the clearing up of existing pension
arrears and the establishment of a framework for averting their future
build-up.

The wider task of comprehensive
social security reform would inevitably require a high-level body to review and
advise on the harmonization of various initiatives and deductions from workers’
payrolls in the name of welfare, such as pension contributions, national
housing fund, national health insurance etc

4. Monetary policy should move
toward lower interest rates to make credit is more accessible to business and
the consumer. This will spur industrial investment and help us reach more
conducive levels of consumer demand. It also will dissuade people from corrupt
temptations.

The need to pay for homes and
other costly items in one lump sum payment is a strong invitation to
corruption. For example, if mortgages and credit instruments are more available
to the judiciary, jurists would be able to purchase homes, decent care and
other items considered the basic amenities of modern life via long-term
installment payments that can be met through their salaries. Able to purchase
these things properly and thus afforded a comfortable life, jurists would be less
vulnerable to improper inducements.

5. The government-backed home
mortgage system must be re-structured and land conveyance more streamlined make
mortgages and all forms of landed transactions are easier and less
bureaucratic. This will increase the wealth of the nation and improve the
efficiency of land use. It also opens the door to affordable housing for
millions of families now beyond the reach of owning their own homes.

6. Agriculture remains the
backbone of the nation. We must help the common farmer by improving rural
output and incomes. Here, we must revive an old policy that served us well. We
must return to commodity exchange boards which will allow farmers to secure
good prices and hedge against loss. An agricultural mortgage loan corporation should
be inaugurated to further promote these goals.

7. To achieve better levels of
overall governance, we need to re-balance the duties between federal and state
governments by giving states more power, authority and resources.

8. Last, Government must be
sufficiently bold to begin a process that will ultimately result in a
government-backed pension plan for all elderly Nigerians, this is something
akin to Social Security which all great nations provide for those of advanced
age.”